What is the Annex Brands franchisee's obligation regarding delivering a copy of the proposed lease?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
B. LEASE OR SUBLEASE OF PREMISES FOR THE CENTER. Franchisor has the right to approve the terms of the lease or sublease of the Center. Franchisee agrees to deliver a copy of the proposed lease or sublease to Franchisor for its approval at least 10 days prior to its execution by Franchisee, and to deliver a final, executed copy to Franchisor within 5 days after execution. Franchisee agrees that it will not execute a lease or sublease for the Center that has, for any reason, been disapproved by Franchisor. Franchisee acknowledges and agrees that Franchisor's approval of the terms of any lease or sublease will not constitute a warranty or representation of any kind, expressed or implied, relating to the economic terms of such lease or
Source: Item 22 — Contracts (FDD pages 109–110)
What This Means (2025 FDD)
According to Annex Brands's 2025 Franchise Disclosure Document, a franchisee must provide the franchisor with specific lease-related documents and adhere to certain conditions regarding the lease agreement. Specifically, the franchisee must deliver a copy of the proposed lease or sublease to Annex Brands for approval at least 10 days before the franchisee executes it.
Additionally, the franchisee is obligated to deliver a final, executed copy of the lease or sublease to Annex Brands within 5 days after its execution. The franchisee is prohibited from executing any lease or sublease for the Center that Annex Brands has disapproved.
These stipulations ensure that Annex Brands maintains control over the location and terms of the lease, protecting their brand and operational standards. The lease or sublease will be subject to a Collateral Assignment of Lease and must contain terms reasonably acceptable to Annex Brands, including provisions that allow assignment to the franchisor and disclosure of sales information.